Graduate PLUS Loans

Graduate students are eligible to borrower higher amounts of federal loans than undergraduate students due to increased costs of graduate school and also since parent income is not considered when awarding graduate student aid. Typically, graduate students can borrow $20,500 per year of Federal Direct Unsubsidized loans up to a cumulative aggregate limit of $138,500, including loans received for undergraduate study. When this is not enough funding for graduate students, they can apply for a Graduate PLUS loan. 

Unlike a Federal Direct Unsubsidized loan for a graduate student, a Graduate PLUS loan requires a credit check.The PLUS loan, when added to other financial aid and/or resources, may not exceed the total cost of education for that academic year. Just like the FAFSA, the student must apply for a Graduate PLUS loan each year.